Spec Developers Filling Up Suburbs With New Product
Industrial developers have struggled to fill several of the massive big-box suburban buildings created in the suburbs in the past few years, but smaller warehouses and distribution centers are having no trouble landing tenants.
Bridge Development Partners is one of the more active suburban developers, and company officials said current leasing activity in these submarkets makes it the perfect time to launch new spec projects. The firm recently acquired a 10.9-acre property at 4110 Finley Road in west suburban Downers Grove, part of the I-88 submarket. It will construct a 133K SF industrial facility, an extension of the just-completed Phase 1 of Bridge Point Downers Grove, a three-building industrial campus with nearly 679K SF.